Create a Trading Bot for Cryptocurrency

It is substantially more difficult to exchange digital currencies with a fundamental constitution. The young and rising company sectors are teeming with “syphon gatherings” that inspire exceptional FOMO (fear of missing out on a big chance) and push expenses out of this planet before body-pumping them back down to earth. Many inexperienced investors also trade in these company sectors, investors who may never have traded on the NYSE. There is a producer and a taker on each exchange, and smart crypto-financial supporters find it easy to exploit the amateurs flooding the field.

Many “trading bot,” as they are known, use the Python programming language to carry out these transactions. If you were to do a search for a “crypto trading bot,” you would find references to Python code in various Github repositories.

I work as an information researcher, and R is my primary tool. I sought a credible instructional activity on using the R language to build an exchanging bot but came up empty-handed. When I discovered the bundle rgdax, which is an R wrapper for the GDAX API, I was motivated to build my own bundle to connect with the GDAX API. Following that is a guide for creating an exchange bot that you may use to build your own systems.

The Approach

Essentially, we will swap the Ethereum of cryptocurency exchange – USD pair on the GDAX market using their API using the relax covering. I prefer trading this pair since Ethereum (ETH) is often in a bullish position, allowing this technique to shine.

Please keep in mind that this is a very simple strategy that will only get you a handful of dollars in a rising market. In every area that counts, use this as a foundation for your own strat.

We will buy when a combination of Relative Strength Index (RSI) points indicates a short oversold market, with the expectation that the bulls will eventually drive costs up and we may accumulate profits.

When we make a buy, the bot will submit three cutoff sell orders: one at 1% benefit, one at 4% benefit, and one at 7% benefit. This allows us to quickly release assets in order to engage another exchange with the first two orders, and the 7% request adds to our overall advantage.

The Loop of Exchanging Executes

We have lately been preparing our abilities and factors to carry out the exchanging cycle. The following is a spoken tour through the true trading circle:

We shall begin the circle if the continuing balance of our record in USD is more than $20. Then, if the current RSI is more than or equal to 30 AND the RSI in the previous time frame was not precisely or comparable to 30, AND the RSI in the previous three-time frames was less than 30 once, we acquire as much ETH as feasible with the current USD balance.

Automating the Script using Windows Task Scheduler

The whole purpose of this bot is to eliminate human error from the exchange and to allow us to input trades without being able to see a screen. To do this, we will use Windows Task Scheduler.

• Known as People’s Exchange, KuCoin is a top five crypto trading platform and is named as the best crypto exchange in 2021 by Forbes Advisor
• KuCoin offers high security, low fee with a friendly interface, KYC policy and customer support
• KuCoin is the biggest altcoin exchange, with 540+ assets and 960+ trading pairs.
• KuCoin is built for all classes of investors, offering trading bot, crypto lending services to beginners and margin & futures trading to advanced traders
• KuCoin is transforming into the first and biggest social trading platform in crypto. It launched social trading features such as copy trading, news feed, in-app community on KuCoin App to further boost the mass adoption of cryptocurrency

History & Background

Launched in September 2017, KuCoin is a Seychelles-based global crypto exchange. The platform’s technical architecture was created in 2013, yet it took years of polishing to make it a seamless experience KuCoin is today.

In November 2018, KuCoin announced $20 million (USD) round A funding from IDG Capital and Matrix Partners.

Known as “People’s Exchange”, it currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world.

According to CoinMarketCap, KuCoin is a top 5 crypto exchange. In 2021, Forbes Advisor named KuCoin as one of the Best Crypto Exchanges.

KuCoin Fee

KuCoin offers a competitive fee structure starting from 0.1%. And it also offers multiple way to enjoy a lower fee. One way is to pay fee with KuCoin Token (KCS), which offers a 20% fee discount. Also, by holding KCS or increasing the trading volume, your VIP level will grow which gives you a lower fee.

For instance, a user with 2000 BTC monthly spot volume can enjoy 0% for maker and 0.07% for taker.

KuCoin Fiat Services

KuCoin now supports over 50 fiats such as USD and EUR from services like KuCoin Fiat Account, P2P market and third-party fiat onramps like Simplex and Banxa.

For European countries, KuCoin Fiat Account is the best choice as it offers a hassle-free experience with a fee lower than the industry average. And for countries like India and Vietnam, the P2P market is ideal as it offers 0 fee for buying and selling.